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SEOUL, Nov. 25 (Yonhap) -- South Korean girl group 2NE1 has officially disbanded, its agency revealed on Friday, confirming that only two of the three remaining members will continue their careers with the company.

With Gong Minzy leaving in April and the remaining members' contracts expiring on Nov. 5, the group and management agreed to disband, YG Entertainment said in a press release.

"Instead of dragging out group activity as 2NE1, we decided to fully dedicate ourselves to the members' solo activities," the agency continued.

"We extended contracts with CL and Sandara Park in May and after, but have not with Park Bom," the agency said, clarifying the future plans for each member.'

The announcement is the ultimate confirmation of the rumors that 2NE1 was doomed to disbandment any time. They began swirling in April when Gong left a month before her contract expired.

At the time, YG Entertainment chief Yang Hyun-suk dismissed the rumors as groundless and assured fans that 2NE1 would go on as a trio. The vow apparently fell through.

Gong Minzy has moved to Music Works, a small agency that also manages K-pop diva Baek Z Young.

CL flew to the United States in 2014 and released her U.S. debut EP "Lifted" in August 2016. The singer-rapper embarked on her first solo concert tour in North America in October.

Sandara Park is currently engaged as one of the judges of "Pinoy Boy Band Superstar," a boy band survival show in the Philippines.